Managing the bank register

Overview

As you enter your client receipts and vendor payments, Ajera enters these items in the bank register. In addition, Ajera automatically creates credit card items from items entered on expense reports.

About the bank register

When client and vendor invoices are paid, these payments and receipts appear in your bank register for you to verify and reconcile. The register also contains electronic transfer of funds and cleared entries from your bank.

You can add transactions to your register for manual checks, deposits, bank charges, and adjustments. You can split single bank transactions across multiple accounts.

You can reconcile to your bank statement.

About credit cards

You can track credit card transactions and reconcile your statement in the same way that you would a bank statement. After you reconcile the credit card statement, Ajera creates a vendor invoice for payment.

Setting up credit cards

In Ajera, you set up a credit card account in much the same way that you set up a bank account. Ajera distinguishes between the two types of accounts because when you set up a bank account, you identify it as either a bank account or a credit card account.    

You also set up each credit card company as a vendor so that you can pay the credit card bill.

If your beginning balance trial balance includes balances for credit card payables, follow the instructions for entering beginning balances for credit cards.

If you are currently entering credit card information through Manage > Vendor Invoices, follow the instructions for setting up credit cards.

Entering transactions

You can enter credit card charges on employee expense reports or in the bank register. If you want to distribute your credit card charges to projects for billing, enter them on employee expense reports. You can enter nonproject transactions in either the bank register or on the employee expense report.   

Reconciling your statement

When you receive your credit card statement, you reconcile the account in much the same way that you reconcile your bank statement.

Paying the bill

When you are finished reconciling a credit card statement, you close that statement. Ajera then issues a vendor invoice for your credit card company, which you pay like any other vendor invoice.

After you pay the vendor invoice, Ajera enters a transaction on the bank register for your:

• Credit card account (to indicate that you made a payment to the credit card company).
• Bank account (to indicate that you issued a check or electronic funds transfer - EFT - payment from the checking account).

Follow a work plan

1. Click Manage > Bank Register.
2. On the Register tab:

• Enter miscellaneous bank adjustments, such as interest and service charges, and record transfers between your bank accounts.
•  Enter credit card entries.

3. On the Reconcile tab:

•  View and change your bank entries as needed.
•  View and change your credit card entries as needed.

4. On the Reconcile tab, enter your ending balance and date.
5. Ajera marks all items through the statement ending date as reconciled.
6. Indicate which items are still outstanding.

Learn the details

These links go to help. To return to this course, click the Back button.

Bank register

Entering bank register transactions

Entering a bank transfer

Changing bank register transactions

Reconciling the bank register

Managing the bank register

Credits cards

Entering credit card transactions

Changing credit card transactions

Reconciling a credit card statement

Entering credit card transactions

Test your knowledge

Quiz: Managing the bank register

Next

Running payroll